Alright, Moving on. First, a definition:
Socialism refers to a broad set of economic theories of social organization advocating state or collective ownership and administration of the means of production and distribution of goods, and the creation of an egalitarian society. [wikipedia]
Next, I would like to point out the men advising Obama on financial issues; there's Paul Volcker and Warren Buffet. The former, the chairman of the federal reserve under Reagan; and latter, the richest investor/business man/philanthropist in the world.
Then, I would say that "spreading the wealth" is really just an end to the Bush tax breaks which made no fiscal sense what-so-ever, considering we were mired in two resource depleting wars. It basically amounts to quiting your job and putting your bills on the credit card because you don't have enough money to pay them.
But, I'll let John McCain explain...
And finally, just to be clear on this whole "spreading the wealth" hysteria, I present to you, a quote.
"It is not very unreasonable, that the rich should contribute to the public not only in proportion to their revenue, but something more than in that proportion"
The source of this quote? The Wealth of Nations, by Adam Smith. That's right folks, the Old Testament of capitalism, as conceived by the granddaddy of modern economics. Smith is basically god to the profits Hayek and Friedman. And even he saw wisdom in the graduated tax now vulgarly characterized as "spreading the wealth"